Published by Todd Bush on December 5, 2024
Saudi state oil giant Aramco is teaming up with the world’s largest oilfield services provider, SLB, and the world’s largest industrial gases company, Linde, to build a carbon capture and storage (CCS) hub in Saudi Arabia, which will be one of the largest such sites in the world.
The companies on Wednesday said they had signed a shareholders’ agreement to advance the project in Jubail, in Saudi Arabia’s Eastern Province.
Under the terms of the deal, Aramco will hold a 60% equity interest in the CCS hub, with Linde and SLB each taking a 20% stake.
>> In Other News: Capture6 Partners with Pilot Energy to Advance Mid West Clean Energy Project
The CCS hub, whose construction is set to be completed by the end of 2027, is expected to capture and store up to 9 million metric tons of carbon dioxide (CO2) annually.
Capacity could be further expanded in later phases, the shareholders said in a joint statement.
In phase one of the CCS project, the hub will have the capacity to capture CO2 from three Aramco gas plants and other industrial sources. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink.
Saudi Arabia has significant geological potential for CO2 storage, Aramco and its partners in the hub say.
The CCS hub would support Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 gas emissions across its wholly-owned operated assets by 2050, as well as its interim target of reducing the carbon intensity of its upstream operations by 15% by 2035, the Saudi oil firm said.
The CCS hub in Jubail also complements Aramco’s blue hydrogen and ammonia program, and aligns with the Kingdom’s net-zero objectives, said the world’s largest oil company by production and market capitalization.
Saudi Arabia has a target to reach net zero by 2060, a decade later than most countries with net-zero goals.
Aramco is one of the world’s leading integrated energy and chemicals companies, driven by a commitment to delivering reliable energy sustainably. Through its vast resources, innovative technologies, and people, Aramco is working to achieve its net-zero ambitions while creating value for its shareholders and stakeholders.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside the Issue 🌎 Global Leaders Converge in Edmonton September 23-25 for Carbon Capture Canada as Federal Government Expected to Boost Industrial Carbon Pricing in Fall 2025 ✈️ Delta Partners Wi...
Inside This Issue 📉 EPA Releases Proposal to End the Burdensome, Costly Greenhouse Gas Reporting Program, Saving up to $2.4 Billion 📊 California to Extend Cap-and-trade Program Aimed at Advancing ...
Inside this Issue ✈️ CORSIA Transforms Aviation Compliance Into Market Gold Rush 📉 IEA Cuts 2030 Low-emissions Hydrogen Production Outlook by Nearly a Quarter 🎤 GenH2 Executive Chairman Josh McMor...
More than 5,000 attendees are expected at Canada’s national Carbon Capture, Utilization and Storage (CCUS) convention to address industry opportunities in the sector from geopolitical advantage to ...
1PointFive and NYK Announce Carbon Removal Agreement
Second NYK transaction continues to build momentum for Direct Air Capture as a solution for the maritime sector HOUSTON, Sept. 17, 2025 (GLOBE NEWSWIRE) -- 1PointFive, a carbon capture, utilizatio...
Led by cornerstone investors Alaska Airlines, American Airlines, with International Airlines Group (IAG), Cathay Pacific, and Japan Airlines from oneworld alliance, and Singapore Airlines as part o...
Eaton to Showcase Technologies for Hydrogen-Powered Commercial Vehicles at IAA Transportation 2024
HANOVER, Germany--(BUSINESS WIRE)--Intelligent power management company Eaton announced it will showcase a broad range of innovative solutions for hydrogen-powered commercial vehicles September 17–...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.